The funds collected on or after January 1, 2016, under the provisions of Section 182.012 shall be deposited and disbursed as follows:
(A) Forty-three percent (43%) of the funds collected shall be deposited in the Debt Service Fund for payment of all debt services charges as they become due, for bonded debt, anticipation notes, for all old and new debts incurred for the construction of and improvements to the Village's storm and sanitary sewer system and related facilities, for the payment of all costs of collecting the income taxes, all costs of administering and enforcing the Ordinance including, but not limited to, the payment of confirmed refunds for overpayments of income tax;
(B) Seventeen percent (17%) of the funds collected shall be deposited in the Capital Project Fund; and
(C) Forty percent (40%) of the funds collected shall be deposited in the general fund.
(Ord. 2018-2. Passed 2-8-18.)